Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Your friend, Suzle Whitson, has designed a new type of outdoor toy that helps children leam basic concepts such as colors, numbers and shapes, Suzie's

image text in transcribed
image text in transcribed
image text in transcribed
Your friend, Suzle Whitson, has designed a new type of outdoor toy that helps children leam basic concepts such as colors, numbers and shapes, Suzie's product will target two groups: day care centers in warm climates and home school programs. Her company 15 Jiffy Det and costs for last month follow Factory rent Company advertising Wages paid to assembly worker's Depreciation for salespersons' vehicles Screws Utities to tactory Assembly supervisor salary Seripaper President Salary Plastic Tubing Paint Sales cuestions Facto Insurance Depreciations cutting eachines pa to painters $ 3,020 1.118 30,400 2,200 585 870 3.540 140 5,110 4,112 28 1,250 1.030 21140 3.e5e Assume that Suzio whitson has decided to begin production of her outdoor children's toy Required: 1 and 2 Identity each of the preceding costs as other a product or a period cost if the cost is a product cost, decide whether it is for direct materials (DM), direct labor(DL)ar manufacturing overhead (MOH) and also identify each of the preceding costs as variable or fixed cost 3. Determine the total cost for each of the following: * Answer is complete but not entirely correct. Complete this question by entering your answers in the tabs below. Reg 1 and 2 Reg 3 Identify each of the preceding costs as either a product or a period cost. If the cost is a product cost. decide whether it is for direct materials (DM), direct labor (DL), or manufacturing overhead (MOH) and also identify each of the preceding costs as variable or fixed cost. (Select "NA" wherever necessary.) O Costs Factory rent Company advertising Wages paid to assembly workers Depreciation for salespersons' vehicles Sorews Utilities for factory Assembly supervisor's salary Sandpaper President's salary Plastio tubing Paint Sales commissions Factory insurance Depreciation on our machines Wesenter Type of cost Cost cost head classification Product DI MOH Fixed Period NA Variable Product DL Variable Period INA Fixed Product MOH Variable Product MOH Vanable Product MOH Fixed Product MOH i Variable Period GINA Fixed Product OM Variable Product OM Variable Panod NA Variable Product MOH Fixed Product Product cu arable 5 H3 3. Determine the total cost for each of the following: Answer is complete but not entirely correct. Complete this question by entering your answers in the tabs below. Red 1 and 2 Req3 Determine the total cost for each of the following: a. b. C. d. e Direct Materials Direct Labor Manufacturing Overhead Prime Cost Conversion Cost Total Product Cost Total Period Cost Total Variable Cost Total Fixed Cost IS 4,530$ $38.450 S 11,185 S 42.980 S49,635 S 54, 165 S 9.670 s 48,795 s 17 0408 h

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Students also viewed these Accounting questions

Question

Discuss communication challenges in a global environment.

Answered: 1 week ago